Multiple sectors were heavily affected by the coronavirus pandemic. While some sectors observed a lull period, others recorded heavy user interest, and fintech, as a sector, falls into the latter category. Fintech companies have been doing notably well ever since the coronavirus pandemic began, which could be attributed to the fact that most transactions and services can now be availed online.
To help more fintechs thrive, global venture group, Team8 has launched Team8 Fintech, a practice focused on founding and scaling fintech companies. This venture group specialises in enterprise technologies, data, AI and cybersecurity and is backed by the likes of Barclays, Microsoft, Walmart, Cisco.
Going beyond idea, capital and tech
Team8 aims to aid in the creation of both B2B and B2B2C companies that can empower industry players with new technologies and new business offerings. The venture believes that depending on merely good ideas, capital and superior-tech is not enough in the world of financial services. As per Team8, a venture should be about coaching, support and the environment to breed innovation.
Some impressive personnel are spearheading the Team8 venture. The list includes Ronen Assia, founder of social trading network unicorn eToro, Yuval Tal, founder of digital payments unicorn Payoneer, Rakefet Russak-Aminoach, creator of Israel’s first and only neobank Pepper, and Galia Beer-Gabel, who held senior roles for PayPal internationally.
“The financial industry is facing a perfect storm, with inevitable changes and advancements already underway. Understanding the challenges and complexities of incumbents or other enterprises to innovate from within, my passion is to build the type of companies I would have wanted to collaborate with in my previous role as CEO of a bank. I see great opportunities in leveraging new technologies to completely reinvent financial services, drive efficiency and improve customer experience,” says Rakefet Russak-Aminoach, Founder of Team8 Fintech.
Accelerating your path to success
Team8 claims to deliver deep domain expertise for creating and investing in companies specialising in enterprise technology, cybersecurity and fintech. The venture group will leverage its “Team8’s signature foundry model of company building” and ideate new solutions to address existing problems and target opportunities for relevant audience.
It is also set to partner with ‘exceptional’ entrepreneurs to co-found new companies, while providing domain expertise and company-building capabilities to mitigate the complexity of building companies in a highly regulated and fragmented market. Its resources are referred to as the Team8 Village, which is said to be an extensively rich ecosystem of corporate executives and investors. This insight and resourcefulness, the venture claims, will accelerate a new company’s path to success.
“We’ve been incredibly impressed by Team8’s approach and track record, and feel they are the ideal partner to help think through some of the challenges and opportunities we all face,” says Ben Davey, CEO of Barclays Ventures.
Main image credits: Shutterstock
I am trying to scale my entertainment media company. It has operated as a stand-alone instagram page for a year. For context, it is about a very niche genre of music, which allowed it to grow very quickly. Now, I have devised a plan to expand this into a media network (based on a franchise model). The first step was to expand to another genre, which has been growing well too. I hired a few people to write content and manage the page based on my franchise model (I wrote a huge document about all the processes used and am tuning it constantly).
It has been harder than I expected. Managing the income stream and tying it back to the network. Managing payouts. Managing the content schedule and growth. Keeping everything in track. Measuring performance of the model. On top of that, we are bootstrapped, and I can't be sure whether or not to invest money to start growing faster.
Does anyone have good advice, resources, stories about scaling an operation like this?
We've been lucky to scale very quickly over the last year it so. This has meant that we need to hire a few new product people.
I haven't run a Product function before, so I am looking for any resources or suggestions on: – Common levels and naming conventions (eg APM, PM, Senior PM, Group PM) – Responsibility of each role and how it changes as it becomes more senior
Keen to hear both how large tech companies structure their Product functions, as well as any personal opinions.
The world is slowly shifting its focus from conventional to renewable energy, which means we need systems in place to help with the inevitable transition. For decentralised renewable energy, one of the key challenges is to take stock of how the energy systems are managed. Taking on this challenge is the Amsterdam-based SaaS startup AMMP Technologies, which has now secured €1.15M from Zendesk and Typeform investors.
Expanding footprint and developing new solutions
The latest funding round for AMMP Technologies was led by Point Nine Capital, which is an early investor in B2B SaaS companies such as Zendesk and Typeform. In addition, Africa-focused Raba Partnership and Musha Ventures also participated in the funding round. The fresh capital will be utilised for expanding the company’s customer base and in further development of its solutions. In particular, this will be realised by adding more vendor integrations, forging partnerships and by launching a solution targeted at energy for telecoms infrastructure.
Svet Bajlekov, co-founder and CEO of AMMP says, “Our customers are already driving the renewable energy transition at an unprecedented pace. We are proud to work alongside them, providing them the digital tools to scale faster than ever. This is especially relevant in the face of the current economic headwinds, and indeed restrictions on physical movement. In turn, we are excited to be bringing on board the leading investors in the B2B SaaS space, and work with them to realize the potential scale of the opportunity ahead of us.”
Operations platform for decentralised renewable energy systems
AMMP Technologies started off in 2018 and its founders began their work at E.ON Off-Grid Solutions. The co-founders Svet, Stine and Hendrik worked together at Rafiki Power (a former E.ON SE company), where they were involved in deploying and operating mini-grids for rural electrification across Sub-Saharan Africa. Most of these deployments were located in remote locations in extreme conditions, where it was difficult and expensive to track them.
Thus the idea of AMMP was born, to plug the technological gap in the renewable energy space. It recognised the potential of bringing together operational data across multiple vendors, technologies, and locations onto a unified platform. The company is currently focussed on emerging markets, where over $ 60B is said to be annually spent on diesel generation, according to the IFC – and where cheaper, cleaner renewables are rapidly replacing this legacy spend.
AMMP’s client list includes some of the most advanced companies in the renewable energy space such as Daystar, Rensource, and PowerGen. It enables remote operations for about 1,000 renewable energy generation systems across 17 countries on four continents – from Colombia, through to Sierra Leone and Kenya, to Myanmar. AMMP supports a wide range of assets, from rural mini-grids with battery storage, to complex megawatt-scale PV-diesel hybrid plants, to telecoms towers.
Image credits: AMMP Technologies
Guy Kirkwood is the Chief Evangelist of UiPath (startup turned unicorn)
UiPath is on the Forbes AI 50; a CNBC Disruptor 50 (one of only three B2B firms); the #1 tech (and #2 overall) enterprise in the FT rankings; and #1 in the Deloitte Fast 500. It is the fastest-growing enterprise software company in history.
00:00 Introduction to being an Evangelist and intro for UiPath
05:42 Career path to UiPath
15:09 Automation and People, & System to system interaction
23:42 restructuring and scaling expansion From coo to chief evangelist
30:40 b2b target/clients and a freemium model &
41:32 self-learning robots
42:02 How can small businesses use UiPath automation?
49:36 Automation not costing people's jobs
57:32 The future of automation and labour
01:14:56 UiPath during scaling
01:20:24 How can new founders get in touch with analysts?
01:25:26 Career history starting from uni, proofreading, army and more
01:38:20 Most important learning points
01:40:58 Biggest unexpected failures and learning lessons
01:43:46 Why is marketing so important? 01.48.00 Biggest project with the most impact
So I finished something like an MVP and I'm thinking about starting to get in touch with some investors for which I'd like to have an amount of money in mind. But I'm not really sure how to calculate how much I would spend on things like servers, data storage, etc. to serve X customers on a given month so I can't really picture the amount of money I should ask for.
Any tips or help will be appreciated.